Coaxial cables having drain wires typically are prepared for termination to electrical devices by manually stripping the end of the cable, then manually locating the drain wire, positioning it, and forming it to the desired shape and position relative to the cable. These cables, which are used in computer backplane wiring, are quite small. Typically they have an outside diameter of about 0.045 inch with the drain wire having a diameter of about 0.009 inch. These small dimensions require that the individual performing the work do so with the aid of a magnifying glass and small delicate tweezers and similar tools. Needless to say, such operations are labor intensive and the quality of the final product is directly related to the skill level of the individual worker. What is needed is a method for doing this work that lends itself to automation and apparatus for carrying out the method.